HOW TO MAKE MONEY WITH MATCHED BETTING IN 2024

If you follow my blog, then you may have already read my original blog post about matched betting where I shared my journey as a complete beginner. If not, you can read that here.

For my new readers, welcome to the exciting world of matched betting. Matched betting is a proven strategy for making money online without risking your own funds. Before we go any further, yes it’s legal!

If you’re eager to discover a legitimate and lucrative method to boost your income, matched betting could be the perfect solution. In this extensive guide, we’ll delve deep into how matched betting works. I will provide you with all the knowledge you need to kickstart your journey as a complete beginner so that you can make money with matched betting in 2024 and beyond.

Understanding the Fundamentals of Matched Betting

Before diving into the practical aspects of matched betting, it’s crucial to grasp the underlying principles that drive this strategy. At its core, matched betting exploits the promotional offers and bonuses provided by bookmakers to guarantee profits regardless of the outcome of a sporting event.

By strategically placing both back and lay bets on the same market, you effectively eliminate the element of risk traditionally associated with gambling. Personally, I wouldn’t have even tried this if risk was involved!

Back Bets vs. Lay Bets: In matched betting, you’ll encounter two primary types of bets: back bets and lay bets. A back bet is a standard wager placed on a particular outcome to win, while a lay bet involves betting against that outcome to lose. By combining these two types of bets, you can cover all possible outcomes and lock in a profit, irrespective of the result.
Utilizing Betting Exchanges: Central to the success of matched betting is the use of a betting exchange, such as Betfair or Smarkets. Unlike traditional bookmakers, betting exchanges allow users to both back and lay bets, facilitating the matched betting process. When placing lay bets on a betting exchange, you act as the bookmaker, offering odds to other users who wish to back a certain outcome.

Choosing the Right Matched Betting Service

While it’s possible to undertake matched betting independently, leveraging the expertise of a dedicated matched betting service can significantly enhance your profitability and efficiency.

The platform I used and highly recommend is Outplayed. Outplayed provides a range of tools and resources, including odds matching software, calculators, and comprehensive guides, designed to simplify the process for beginners.

Get Your FREE trial at Outplayed Here.

Odds Matching Software: Outplayed offers sophisticated odds matching software that scans hundreds of bookmakers and betting exchanges to identify profitable opportunities. By highlighting matches with minimal qualifying losses and maximum potential profits, this software enables users to capitalize on lucrative offers effortlessly.
Step-by-Step Guides: For novice matched bettors, navigating the intricacies of the process can seem daunting at first. That’s where step-by-step guides come in handy. Outplayed provides detailed tutorials and walkthroughs, breaking down each stage of the process into manageable steps and offering practical tips for success.
Community Support: One of the most valuable aspects of matched betting services is the sense of community they foster. Engaging with fellow matched bettors through the Outplayed Forum allows you to share insights, troubleshoot issues, and celebrate successes together.

Getting Started with Matched Betting

Now that you’ve familiarized yourself with the fundamentals of matched betting, it’s time to embark on your journey towards financial freedom.

Follow these steps to kickstart your matched betting adventure as a complete beginner or if you are brand new and have no idea where to start, head straight toOutplayed for the FREE trial where all of this is explained step by step.

Set Up Your Accounts: The first step in your matched betting journey is to create accounts with both bookmakers and a betting exchange. Take care to use separate email addresses and payment methods for each account, as this will help you keep track of your transactions and avoid potential complications.
Verify Your Identity: Before you can start placing bets and accessing promotional offers, you’ll likely need to verify your identity with the bookmakers and betting exchange. This typically involves providing proof of identity and address, as well as verifying your payment details.
Fund Your Accounts: Once your accounts are set up and verified, it’s time to fund them with an initial investment. Start with a modest amount that you’re comfortable risking, as you’ll use this capital to place your qualifying bets and unlock free bets and bonuses.
Understand the Different Types of Offers: Bookmakers offer a wide range of promotions and incentives to attract new customers and retain existing ones. Common types of offers include sign-up bonuses, free bets, enhanced odds, and money-back specials. Each offer has its own terms and conditions, so it’s essential to read them carefully before proceeding.

Executing Your First Matched Bet

With your accounts set up and funded, it’s time to dive into the exciting world of matched betting. Follow these steps to execute your first matched bet successfully:

Identify a Suitable Offer: Browse through the available offers on your chosen matched betting platform and select one that matches your risk appetite and investment level. Look for offers with low qualifying requirements and high potential profits to maximize your returns.
Calculate Your Bets: Using the odds matching software provided by your matched betting service, input the details of the offer, including the stake, odds, and commission rates. The software will then calculate the optimal bets to place, ensuring a guaranteed profit regardless of the outcome.
Place Your Qualifying Bet: Begin by placing a qualifying bet with the bookmaker to unlock the free bet or bonus. Ensure that you follow the specific instructions outlined in the offer terms and conditions, as failure to do so may result in the forfeiture of the bonus.
Lay Off Your Bet: Once your qualifying bet has been settled, it’s time to lay off the same bet on the betting exchange to cover all possible outcomes. Again, refer to the odds matching software to determine the appropriate stake and odds for your lay bet.
Repeat the Process: With your free bet or bonus now available, repeat the process with another qualifying bet to extract additional profits. As you gain experience and confidence, you can explore more advanced matched betting strategies, such as accumulator bets and dutching, to further boost your earnings.

I chose not to do this alone, Instead of following the steps above, I just used Outplayed and followed their step by step videos as it makes the process so much simpler!

Additonal Tips for Success

While matched betting offers an excellent opportunity to make money online, success requires diligence, discipline, and a willingness to learn. Here are some tips to help you maximize your earnings and minimize your risks:

Start Small: As a beginner, it’s natural to feel overwhelmed by the sheer volume of information and opportunities available in the world of matched betting. To avoid becoming discouraged, start with small stakes and gradually increase your bets as you gain confidence and experience.
Keep Detailed Records: Maintaining accurate records of your bets, profits, and account balances is essential for tracking your progress and identifying any potential issues or discrepancies. Whether you use a dedicated spreadsheet or tracking software provided by your matched betting service, make sure to update your records regularly.
Stay Organized: With multiple accounts, offers, and bets to manage, staying organized is key to success in matched betting. Create a system for keeping track of your login details, payment methods, and promotional terms and conditions to avoid any confusion or mistakes.
Be Selective with Offers: While it may be tempting to take advantage of every available offer, it’s important to be selective and focus on those with the highest expected value. Prioritize offers with low qualifying requirements, favorable odds, and minimal risk to maximize your profits in the long run.
Learn from Your Mistakes: Matched betting is a learning process, and you’re bound to encounter challenges and setbacks along the way. Instead of dwelling on your mistakes, use them as opportunities for growth and education. Analyze what went wrong, adjust your strategies accordingly, and move forward with renewed determination.

Conclusion

Matched betting offers a unique and lucrative opportunity for individuals seeking to make money online without taking on unnecessary risks.

By leveraging the promotional offers and bonuses provided by bookmakers, matched bettors can consistently generate profits with minimal effort and investment. Armed with the knowledge and resources provided in this comprehensive guide, you’re well-equipped to embark on your matched betting journey with confidence and success.

Remember to approach matched betting with patience, discipline, and a commitment to continuous learning, and you’ll soon be reaping the rewards of your efforts. Happy betting!

How to Make Money with Matched Betting in 2024